3000 new affordable homes planned

Plans have been announced to build 3,000 affordable homes within Bahrain's major Diyar Al Muharraq development.The BD200 million project, which is set to take off in May, is expected to be completed by the end of 2013.

It will help support the huge demand for affordable housing, said Kuwait Finance House managing director and chief executive officer Abdulhakeem Alkhayyat.Mr Alkhayyat said for the first time in Bahrain, each unit would have facilities for setting up rooftop gardens, using the latest scientific technology."We intend to landscape the entire area, but each house will also have a rooftop garden to give a clean and green look to the entire area," he said.

He said the investment was evidence that Bahrain's economy was alive and kicking and poised to take off again after the recent political turmoil."With this investment, we and our partners have proved we have faith in the country's economy and its leadership and is a signal for others to take similar measures."

Mr Alkhayyat said the company was also looking at future projects in collaboration and partnership with the government.He said mock-up villas will be ready by September after which bookings will be accepted.Located on the northern shores of Muharraq, the development is a unique self-contained master-planned city that will provide a mix of residential and commercial properties.It will feature housing for more than 100,000 people in 30,000 housing units, extending over an area of __12 square kilometres.Mr Alkhayyat said around 53,000 people were still waiting for government housing and 4,000 were being added to the list annually.He said the company and banks would provide financing schemes for potential buyers.
 
Mr Alkhayyat said for every group of 400 to 500 units, there would be a community centre that will include shops, playgrounds, a mosque and other amenities. "The project is unique in that it will include fully integrated modern infrastructure including roads, street lights and landscaping and will be within a walking distance from public water fronts, public beach fronts and public parks," he added.